I'm in the early stages, but I'm looking at two main things - Money coming in, and money going out.
Sources of income -
- Regular Work Paycheck
- I received 12 paychecks, so that's good.
- I get paid once per month, which is a little annoying.
- Tax Refund
- I received 3 refunds, 1 from the federal IRS, and 2 from the 2 states I worked in during 2017.
- Credit Card Cashback
- I received cash back from two of my credit cards (this amount will be less this year.
Money Spent -
- I wrote two checks the entire year - I continue to write checks less and less.
- Money to main credit card
- Money to less often used credit cards
- Money to debit card
- Money to student loans
- Money to car payment
- Money to phone bill
- Basically any money coming out of my checking account.
I will break this down more, but it's very interesting (and frustrating) to see where my money goes. One of the biggest things so far is seeing my after tax income. I know what my stated salary is, and it's depressing to see what I actually get in terms of take-home pay.
So this post isn't exactly helpful to those reading it, but if I can provide any sort of value, it's to continue to look back at what you've done to help determine what you'll do in the future. We don't change overnight, but with data and information on what we've done, we can use that to numerically/quantitatively guide us to change. That's what I'm doing with my spending.